Gold futures for December delivery rose 0.7 percent
Copper for delivery in three months added 1 percent
Aluminum, zinc and lead advanced in London
Gold futures rose to a three-week high as concern that the global
economy is faltering stoked bets that the Federal Reserve will keep U.S.
interest rates low, driving the dollar down and boosting the metal’s
allure. Silver futures for December delivery climbed 0.2 percent to
$17.345 an ounce. Copper prices rose in London, pacing gains by
industrial metals, as faster exports eased concern that economic growth
will fade in China, the world’s biggest consumer.
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Lead:
Lead September prices have resistance at Rs.127.5 and can remain under pressure as far as it trades below this level. Only a breakout above Rs.127.5 can take prices higher towards Rs.129.0. On lower side prices have support at Rs.125.0.
Nickel:
Nickel September prices have resistance at Rs.1065 and as far as prices trades below selling can be seen there. Prices on lower side can fall towards 1040 and Rs.1030. Prices should not move above Rs.1075 to maintain negative outlook for the day.
Gold prices are expected to have intraday support at $1220 i.e. Rs.26800-26850 and buying can be seen there. Prices on higher side can test $1230 i.e. Rs.27100 and again selling can be seen there. Prices should not fall below $1215 i.e. Rs.26700 to maintain the positive outlook.
Silver December prices are expected to intraday resistance at Rs.39600-Rs.39700 and selling can be seen there. Prices are expected to remain weak till it trades below Rs.40100. On lower side prices can test Rs.39100 and Rs. 38900. Day close below Rs.38500 will prices sharply lower towards Rs.37000.
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Gold futures for December delivery rose 0.2 percent
Silver futures for delivery in December fell 1.5 percent
Copper prices dropped to a 14-week low
Aluminum declined 1.2 percent to $1,950.50 a ton
Nickel, lead and zinc dropped in London,
Gold futures rose as a decline in U.S. equities reignited demand for an alternative asset. Silver futures for delivery in December fell 1.5 percent to $17.438 an ounce on the Comex, after reaching $17.27, the lowest since June 2010. Copper prices dropped to a 14-week low after a report showed demand for durable goods in August tumbled by a record in the U.S., the world’s second-biggest consumer of the metal.West Texas Intermediate rose to the highest level in a week as crude inventories shrank in the U.S., the world’s biggest consumer.
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Copper:
November Copper prices have crucial resistance at Rs.418.0 and as far as prices are trading below this level prices can trade sideways to lower. Prices on lower side can give fresh selling pressure if sustain below Rs.413.0 and can extend fall towards Rs.409.0. Only a breakout above Rs.418.0 will turn outlook positive.
Zinc:
Zinc September prices can face resistance at Rs.137.8-138.0 and can remain under pressure as far as it trades below Rs.139.0. Prices on lower side can have support at Rs.134.5-135.0 and again bounce can be seen.
Gold prices are expected to have intraday resistance at $1230 i.e. Rs.26800-26830 and selling can be seen there. Prices on lower side can test $1215 i.e. Rs.26500. Prices should not move above $1235 i.e. Rs.26950 to maintain negative outlook for the day.
Silver December prices are expected to intraday resistance at Rs.39750-Rs.39850 and selling can be seen there. Prices are expected to remain weak till it trades below Rs.40100. On lower side prices can test Rs.39100 and Rs. 38900.
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Copper prices are trading in a big range. Prices are expected to have support at Rs.418.0 and successful break down below this level can take prices further down towards Rs.413.0. On higher side prices have resistance at Rs.423.0
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Gold futures tumbled to an eight-month low
Silver futures for delivery in December fell 1.2 percent
Crude futures dropped 1.4 percent
Copper futures capped the biggest decline in more than a week
Aluminum, nickel and lead also dropped in London, while tin and zinc rose.
Gold futures tumbled to an eight-month low after the Federal Reserve raised its outlook for interest rates, crimping demand for an inflation hedge. Silver futures for delivery in December fell 1.2 percent to $18.517 an ounce. The price touched $18.27, the lowest since June 28, 2013. West Texas Intermediate and Brent oils fell as a stronger dollar curbed the appeal of commodities to investors looking for a store of value. Copper futures capped the biggest decline in more than a week on demand concerns amid signs that housing markets are sputtering in China and the U.S., the two biggest users.
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Copper prices jumped by 2 percent as the People’s Bank of China provided 500 billion yuan ($81.34 billion) of liquidity to the country’s five biggest banks as Premier Li Keqiang moves to support economic growth.
MCX copper prices are expected to trade higher taking cues from weakness in international markets.
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Gold advanced for a second straight day
Silver futures for delivery in December rose 0.5 percent
Crude climbed to a two-week high
Gold advanced for a second straight day as a drop in the dollar and a report that China’s central bank implemented new stimulus measures boosted demand for the metal as an alternative investment. Silver futures for delivery in December rose 0.5 percent to $18.721 an ounce on the Comex.
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